Estimate ending inventory using conventional retail method

Reference no: EM132086247

Question: Willie Nelson's Boots uses the conventional retail method to estimate ending inventory. Cost data for the most recent quarter is shown below:

Cost Retail

Beginning inventory $44,000 $70,000

Net purchases 157,000 210,000

Net markups 20,000

Net markdowns 35,000

Net sales 222,000

To the nearest thousand, estimated ending inventory using the conventional retail method is (Do not round intermediate calculations):

Reference no: EM132086247

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